Guideline Value for Kannadapalayam Street

Kannadapalayam Street guideline value

The current guideline value of Kannadapalayam Street is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Mevaloorkuppam B village, under the Sriperumpudur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kannadapalayam Street has changed

From the 2017 revision, the guideline value for Kannadapalayam Street was Rs 134 per sq.ft. This figure remained unchanged at Rs 100 per sq.ft in both the 2023 and 2024 revisions, resulting in a decrease of 25% from 2017 to 2023 and an overall decrease of 25% from 2017 to 2024. The register has no figure for this street for the years 2002, 2003, 2007, and 2012.

The 2023 revision maintained the guideline value at Rs 100 per sq.ft, showing no change from the previous year. This consistency indicates stability in the guideline value over the last two years, despite the earlier decline from 2017 to 2023.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, there are 84 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 100 to Rs 6,200 per sq.ft. The median guideline value in this village is Rs 400 per sq.ft, placing Kannadapalayam Street's 2024 figure below that median.

• Karthik Nagar: Rs 500 per sq.ft (2024)
• Kalaignar Street: Rs 100 per sq.ft (2024)
• K G Flats: Rs 1,320 per sq.ft (2024)
• Kings Land: Rs 700 per sq.ft (2024)
• kingsland Extension: Rs 700 per sq.ft (2024)
• Kulakkarai Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Kannadapalayam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannadapalayam Street?

The Sub Registrar Office that covers Kannadapalayam Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mevaloorkuppam B

The guideline value plays a crucial role in property transactions in Mevaloorkuppam B. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is a fixed rate set by the government, which helps ensure that the taxes collected are based on a standardized valuation.

When purchasing a property, the buyer must be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kannadapalayam Street?

The current guideline value of Kannadapalayam Street is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has decreased by 25%, remaining at Rs 100 per sq.ft in both the 2023 and 2024 revisions. The previous value in 2017 was Rs 134 per sq.ft.

What is the classification of land on Kannadapalayam Street?

Kannadapalayam Street is classified as Residential Class IV Type - I. This classification is important for determining the applicable regulations and guidelines for property development in the area.

What are the other streets with guideline values in Mevaloorkuppam B?

Other streets in Mevaloorkuppam B have varying guideline values, ranging from Rs 100 to Rs 6,200 per sq.ft. For example, Karthik Nagar has a guideline value of Rs 500 per sq.ft, while K G Flats has a value of Rs 1,320 per sq.ft.

Where can I find the Sub Registrar Office for Kannadapalayam Street?

The Sub Registrar Office for Kannadapalayam Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles the registration of property transactions in the area.